12:43 PM EST, 12/10/2024 (MT Newswires) -- Lumina Gold ( LMGDF ) Tuesday said it received notice the Ecuadorean government agreed to extend its existing Exploration Investment Protection Agreement to include spending from 2010 up until the end of 2024.

The increased amount of investment protected by the agreement is US$79 million.

The addendum to the agreement is expected to be finalized in the coming weeks.

"The company is extremely pleased at the progress made in the last month, which has seen the extension of the Los Cangrejos concession by 25-years, completion of the Exploitation Contract terms and this Exploration Investment Protection Agreement extension," said chief executive Marshall Koval. "Lumina is looking forward to completing the Complimentary Investment Protection Agreement to cover the potential construction period for Cangrejos, 2025-2031 and announcing the results from the ongoing Feasibility Study in Q2 2025."

The company's shares were last seen down $0.005 to $0.49 on the TSX Venture Exchange.

Price: 0.49, Change: -0.01, Percent Change: -1.01